SM PRIME TO ADD RETAIL DEV’T IN THREE SMDC PROJECTS THIS YEAR

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SM Prime Holdings Inc., the enlarged property firm of SM Group, will add retail developments in three projects of its residential arm SM Development Corp. (SMDC) within this year. SM Prime Executive Vice President Jeffrey Lim said that SMDC plans to put retail components on all its residential projects. “Every residential component will have retail on the ground or second floor. We have about two or three retail malls this year,” Lim, who also serves as SMDC president, told reporters on the sidelines of the annual stockholders meeting of SM Investments Corp., the parent firm of SM Prime. “Every SM residence will have a retail component but it depends on the size of the development. If the size is small, the retail component is adjusted also to the residential development,” he added.

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